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Mortgage - Help

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  • 22-07-2016 11:29am
    #1
    liza221xd
    Registered Users Posts: 10 ✭


    Hi,
    I inherited a house that's work approx €150k, but it needs minimum €100k spent on it to make it habitable. Does anyone know if a mortgage of €100k would still need the deposit of 20% as technically I'm not a first time buyer, but I've never had a mortgage either.
    Any help would be great, thanks.
    Tagged:


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    #2
    Trish56
    Registered Users Posts: 1,256 ✭✭✭Trish56


    You would be treated as a first time buyer and should be able to borrow 90% of the proposed home improvements. It may be possible to borrow 100% however all lenders will be looking for a savings profile and or rent paid in order to prove affordability.

    Hope this helps
    Trish


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